Kitov Co. receives $280,000 when it issues a $280,000, 6%, mortgage note payable to finance the construction

Question:

Kitov Co. receives $280,000 when it issues a $280,000, 6%, mortgage note payable to finance the construction of a building at December 31, 2012. The terms provide for semiannual installment payments of $14,285 on June 30 and December 31.
Instructions
Prepare the journal entries to record the mortgage loan and the first two installment payments.